Opening of Bids -OALP Bid Round IV

Source Press Release
Company Oil India LimitedONGC 
Tags Licensing Rounds, Upstream Activities
Date October 31, 2019

After the successful award of 87 blocks under first three bidding rounds of OALP (cumulative acreage of approximately 118,000 sq. km.), the Government undertook further steps to accelerate the E&P sector and launched OALP - IV bid round on August 27, 2019 under a revised policy framework.

Seven (7) Onland Blocks were on offer with an area of approximately 18,500 sq. km. The last date of bid submission was kept at 12.00 hrs on October 31, 2019.

The last date of bidding culminated with the physical bid receiving deadline of 12.00 noon on October 31, 2019 and immediately followed by opening the qualification component of the electronic bids in the presence of the bidders. The results demonstrate the continued interest of established players in Indian E&P with bids received for all 7 blocks. The evaluation of the bids would be undertaken in a time bound manner.

Blocks under OALP-Round-IV and all future Bid Rounds are being awarded under a more simplified and business friendly regulatory framework. Under this policy regime, the emphasis is on work programme, with no requirement for revenue share quotations for less explored Category II and III basins. A cap of 50% for revenue share in Category I basins has been introduced. A simple alternative dispute resolution mechanism is being implemented and a “single window” system of application for online clearances is also being put in place. OALP- IV has Five (5) blocks in Category-II basin and one (1) each in Category-I and Category-III Basin.

Expression of Interest submission window for the OALP-V bid round is open till November 30, 2019 and companies have another opportunity to take part in the blossoming Indian E & P sector.

Summary of e-bids received under the OALP Bid Round – IV

Total Number of companies participating: Two (2)

  Total Onland Blocks on      Bids received for      Total Number of e-Bids   
           
  offer      (No. of Blocks)       
             
                 
                 
    8*   
                 
  Total No. of Companies    Companies   
     
         

1. M/s Oil and Natural Gas Corporation Limited

2

2. M/s Oil India Limited)

*Names of the Bidder for each Block is provided at Annexure “A”

Opening of Bids -OALP Bid Round IV

Thursday, 31st October, 2019, New Delhi

Annexure “A”

  S.  Block Name  Total  Name of Bidders  State  Area 
  No.  Bids  (SKM) 
       
             
  RJ-ONHP-2019/1  1)M/s Oil India Limited  Rajasthan  2118.8 
  2) M/s Oil and Natural Gas Corporation Limited 
           
             
  VN-ONHP-2019/1  M/s Oil and Natural Gas Corporation Limited  Madhya Pradesh  2730.7 
             
  VN-ONHP-2019/2  M/s Oil and Natural Gas Corporation Limited  Madhya Pradesh  3077.7 
             
  VN-ONHP-2019/3  M/s Oil and Natural Gas Corporation Limited  Madhya Pradesh  3097.2 
             
  VN-ONHP-2019/4  M/s Oil and Natural Gas Corporation Limited  Madhya Pradesh  2932.7 
             
  VN-ONHP-2019/5  M/s Oil and Natural Gas Corporation Limited  Madhya Pradesh  1421.7 
             
  BP-ONHP-2019/1  M/s Oil and Natural Gas Corporation Limited  West Bengal  3130.9 
             
        Total Area    18509.7 
             

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd